WATCH: Matjila continues PIC testimony

Former PIC CEO Dan Matjila is back at the stand at the PIC Inquiry. During his testimony on Tuesday Matjila said he regrets investing in Steinhoff and takes full responsibility for the disaster that followed.

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PRETORIA - The Public Investment Corporation's former CEO Dan Matjila says he regrets investing in Steinhoff and takes full responsibility for the disaster that followed.

Matjila was grilled on his involvement in various questionable deals.

He continues to testify on Wednesday.

Just last week, Matjila told the inquiry he's not politically-affiliated but on Tuesday, he said he found nothing wrong with lobbying for funding for a Cosatu conference in 2015.

“Commissioner that, that happens all the time that some parties will ask the PIC for assistance and we’ve always been clear that PIC as an organisation cannot contribute to such,” said Matjila.

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Matjila was regretful when questioned about the R9-billion Steinhoff deal.

The PIC is said to have lost around R19-billion through this investment.

“The losses incurred through the PIC’s investment in Steinhoff were significant and deeply regrettable, now I’m talking after the disaster and I take full responsibility as the head of the organisation PIC,” Matjila said.

But Matjila says no one could’ve predicted Steinhoff's collapse, claiming all checks and balances were followed when investing into the company.

The inquiry will resume on Monday.

The PIC's former CEO says he regrets investing in Steinhoff and takes full responsibility for the disaster that followed. Courtesy #DStv403

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eNCA